Daily Spot… Absorbing Yellen.

A daily summary of high-profile members of several complexes… View a more detailed discussion of each chart at the end of today”s Market Wrap.

Eurodollar Sep Contract (EC, ETF: (FXE, UUP))
The drop extended through Wednesday”s open to fill the gap back down to last Tuesday”s actual 1.0935 open. Already trying to firm or to bounce is impatient optimism, and not likely to end the decline — although closing back above 1.1000 would be credible for reversing momentum up.

Gold Aug Contract (GC, ETF: (GLD))
Fresh lows Wednesday morning probed 1144.00 support, with potential for extending down to 1137.00 so long as bounces hold 1151.00 as resistance. Closing above 1158.50 would signal the decline”s momentum had lapsed and was probably also reversing back up.

Silver Sep Contract (SI, ETF: (SLV))
A fresh reaction low Wednesday morning extended down to test 15.00 as support, which should be the maximum consequence to having tried prematurely to recover 15.35-15.45 resistance. Closing under 14.90 would suggest a deeper pullback underway.

30-year Treasury Sep Contract (US, ETF: (TLT))
Rallying on Yellen”s testimony without yet probing a fresh low left only 150-24 resistance as a buy signal. It was tested Wednesday to 150-30, and closing back under 150-08 would signal fresh lows in-play to at least 149-08.

Crude Oil Aug Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Sideways ranging became flat-to-lower ranging Wednesday. Instead of launching a rally, at least a fresh low targeting 48.00 has become increasingly likely.

Natural Gas Aug Contract (NG, ETF: (UNG, UNL))
Wednesday”s pre-open rally was already neutralizing the attraction back up to Tuesday”s 2.91 gap up. The balance of the session ranged narrowly at the high, not rejecting the filled gap — greeting Thursday”s EIA report from a position of strength.